Factors Considered in Determining an Intangible Asset's Useful Life Include

question 107

Multiple Choice

Factors considered in determining an intangible asset's useful life include all of the following except

• A) the expected use of the asset.
• B) any legal or contractual provisions that may limit the useful life.
• C) any provisions for renewal or extension of the asset's legal life.
• D) the amortization method used.

---

Definitions:

Housing Discrimination

The illegal practice of denying individuals or groups the opportunity to rent, buy, or negotiate for housing based on race, color, religion, sex, disability, familial status, or national origin.

Traditional Rule

A long-established guideline or principle that is followed in a specific field or practice.

Legal Responsibility

The obligation to answer for an action or activity within the boundaries of law, which may involve liability for damages or penalties.

Tenancy At Will

A rental agreement in which either the landlord or tenant can terminate the lease at any time with reasonable notice, without a fixed term.